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Fox Corporation
The Fox Corporation (abbreviated Fox Corp. and informally "New Fox") is an American television broadcasting company headquartered in Midtown Manhattan, New York City. It was formed from the 2019 acquisition of 21st Century Fox (itself formed from the 2013 split of News Corporation) by the Walt Disney Company. Fox Corp. was spun off from 21st Century Fox and its stock began trading on March 19, 2019. It is owned by the Murdoch family via a family trust with 39% interest; Rupert Murdoch is co-executive chairman, while his son Lachlan Murdoch is chairman and CEO. Fox Corp. deals primarily in the television broadcast, news, and sports broadcasting industries by way of the remaining 21st Century Fox assets that were not acquired by Disney. They include the Fox Broadcasting Company, Fox Television Stations, Fox News, the Fox Business Network, the national operations of Fox Sports, and others. Its sister company under Murdoch's control, the present-day News Corp, holds his print interests and other media assets in Australia. History Formation On December 14, 2017, The Walt Disney Company announced its intent to acquire the motion picture, cable entertainment, and direct broadcast satellite divisions of 21st Century Fox. The remainder of the company, would form a so-called "New Fox", maintaining control of assets such as Fox's television network and broadcast stations, Fox News Channel, and the national operations of Fox Sports, among other assets. Fox's regional sports networks were to be included in the sale to Disney. In May 2018, it was confirmed that Lachlan Murdoch, rather than James Murdoch, would take charge of the New Fox company. The merger faced antitrust scrutiny; Disney would not legally be able to own both the ABC and Fox networks due to an FCC policy known as the "dual network rule", which prohibits mergers between the top broadcast networks. The Department of Justice also ordered that Fox's regional sports networks be divested by Disney within 90 days of closing. Disney owns 80 percent of ESPN, and the Justice Department felt that the Fox regional networks' combination with ESPN would make Disney too dominant in the cable sports market. In mid-2018, Comcast instigated bidding wars over both the assets Disney planned to purchase, and the British broadcaster Sky plc (a company which 21st Century Fox held a stake in, and was planning to acquire the remainder). In July 2018, Fox agreed to an increase of Disney's offer to $71.3 billion to fend off Comcast's counter-bid. British regulators ordered that a blind auction be held for Sky's assets, which would be won by Comcast. On October 10, 2018, it was reported that in preparation for the impending completion of the sale, the new, post-merger organizational structure of "New Fox" would be implemented by January 1, 2019. On November 14, 2018, it was revealed that the new independent company will maintain the original Fox name. On January 7, 2019, Fox Corporation's registration statement was filed with the U.S. Securities and Exchange Commission. On January 11, 2019, Fox stated in a securities filing that it had no plans to bid on its former regional sports networks. On March 12, 2019, Disney announced that the sale would be completed by March 20, 2019. On March 19, 2019, Fox Corporation officially began trading on the S&P 500, replacing 21st Century Fox on the index. Republican politician and former speaker of the house Paul Ryan also joined Fox's board at this time. Corporate governance Board of directors * Rupert Murdoch (co-chairman) * Lachlan Murdoch (chairman and chief executive officer) * Paul Ryan (director) * Jacques Nasser (director) * Anne Dias (director) * Roland A. Hernandez (director) * Chase Carey (director) Executive management * John Nallen (chief operating officer) * Paul Cheesbrough (chief technology officer) * Steve Tomsic (chief financial officer) * Viet D. Dinh (chief legal and policy officer) * Joseph Dorrego (chief investor relations officer and executive vice president of corporate initiatives) * Mike Biard (president of operations and distribution) * Marianne Gambelli (president of ad sales) * Charlie Collier (CEO of Entertainment) * Eric Shanks (CEO of Fox Sports) Assets * Fox Broadcasting Company * Fox Television Stations Group ** 28 stations ** MyNetworkTV ** Movies! (50%) * Fox News Group ** Fox News Channel ** Fox Business Network ** Fox News Radio ** Fox News Talk ** Fox Nation * Fox Sports Media Group ** Fox Sports ** FS1 ** FS2 ** Fox Deportes ** Big Ten Network (51%) ** Fox Soccer Plus ** Fox College Sports ** Fox Sports Racing ** Fox Sports Radio ** Fox Sports Digital Media ** Home Team Sports (HTS) – advertising sales for sports channels including other regional sports networks plus commercial and program production, events, and local live custom brand integration *** Fox Sports College Properties – college rights holder for Big East Conference, several colleges: Michigan State, Auburn, San Diego State, Georgetown & USC and the Los Angeles Memorial Coliseum *** Impression Sports & Entertainment – naming rights and event sponsorships. Category:Companies Category:21st Century Fox